Radio Shack filing for BANKRUPTCY again…200 stores to close?
Its over. Radio Shack has announced its second bankruptcy in a little over two years according to this AL report.
RadioShack is reportedly preparing to file for bankruptcy for the second time in two years.
RadioShack’s parent company, General Wireless Operations, is in the process of closing an additional 200 stores as part of the restructuring, the Wall Street Journal reported. The Fort Worth, Texas-based company previously sought bankruptcy protection in 2015, selling 1,500 of its stores to General Wireless.
Additional RadioShack stores could close, the reports noted, if Sprint agrees to end leases for its “stores within stores” at some locations.
The stores closings are already underway but the company has not released a list of affected locations. The chain will continue to operate in a smaller capacity, sources said.